The Cultural Development Fund (CDF) Highlights Saudi’s Cultural Initiatives during Priority Summit in New York

H.E. Irina Bokova, Mohammed bin Dayel, Alejandro Navia and Suzanne Kianpour

As part of its efforts to establish the Kingdom as a global cultural leader

New York – The Cultural Development Fund (CDF) has concluded its participation in the Priority Summit hosted in New York City. The fund’s participation in the summit served as an extension of CDF’s goal to enhance Saudi Arabia’s cultural scene and empower people and organizations within the sector.

Organized by the Future Investment Initiative (FII) on the sidelines of the 77th United Nations General Assembly, the summit’s occurrence was a part of a series of events aimed at encouraging open dialogue to uncover the top priority in the minds and hearts of individuals from all walks of life. The summit’s agenda consisted of a series of interactive conversations and debates amongst a range of stakeholders to discuss global challenges and find beneficial solutions that impact humanity.

As a primary financial enabler of Saudi Arabia’s cultural sector among other Priority Summit’s participants, the CDF took part in the summit as an official strategic partner of the Future Investment Initiative.

During the summit, Mohammed bin Abdulrahman bin Dayel, Chief Executive Officer of the CDF, participated in a panel discussion titled The Neo Renaissance, where he discussed the CDF’s role in attracting investment, empowering cultural sectors, and creating opportunities for the local cultural economy to thrive.

The summit’s guests were also able to learn about how the CDF is supporting the private and public sectors to create a framework that empowers the cultural sector and ensures continuity. Throughout the summit, the CDF highlighted how its plans align with the Kingdom’s Vision 2030 objectives to upscale nearly every facet of life in Saudi Arabia, including quality of life standards.

Bin Dayel also emphasized how the CDF’s role integrates with those of other funds within the Kingdom’s development ecosystem and their drive to achieve sustainable national development.

The CDF’s participation in the Priority Summit comes as part of its strategy to attract local and international investment to assist in transforming the Kingdom’s cultural scene, helping Saudi Arabia position itself as the destination for cultural enthusiasts globally.

The fund also seeks to establish national and global partnerships, foster cooperation amongst organizations that have a presence in the Saudi cultural scene, and continue its strategic partnership with the FII by participating in the sixth iteration of the Future Investment Initiative Conference, scheduled to be held in Riyadh from the 25th through the 27th of October.

The CDF is one of the key domestic enablers of culture, nurturing a cultural ecosystem that encourages investment, fosters sustainability, and instills culture as a way of life that boosts the Kingdom’s national identity and meets the targets of Vision 2030’s quality of life objectives.

The fund aims to achieve these targets by creating a cultural ecosystem that contributes to the diversification of the economy through empowering and overseeing cultural projects, attracting businesses, and investing in strategic programs that help Saudi’s cultural sector flourish and enhance its profitability.


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